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siness. As of December 31, 2013, the company had 5,904 branches.
The company’s Latin American banking business is principally conducted by various banking subsidiaries, including Banco Santander (Brasil), S.A.; Banco Santander Chile; Banco Santander (Mexico), S.A., Institución de Banca Múltiple, Grupo Financiero Santander; and Banco Santander Río, S.A. (Argentina). The company engages in a range of retail banking activities in Latin America.
Mexico: As of December 31, 2013, the company had a network of 1,258 branches,
Chile: As of December 31, 2013, the company had 493 branches.
Puerto Rico: As of December 31, 2013 Santander Puerto Rico had 115 branches.
Peru: As of December 31, 2013, Banco Santander Perú, S.A. had one branch.
United States
The segment includes Santander Holdings USA (SHUSA), a bank holding company with two distinct lines of business: retail banking, via its subsidiary Santander Bank, and consumer finance business through its stake in Santander Consumer USA Inc. (SCUSA).
SCUSA specializes in consumer finance, mainly auto finance. In February 2013, SCUSA entered into a 10-year agreement with Chrysler Group LLC, whereby it originates private-label loans and leases under the Chrysler Capital brand (Chrysler Capital) to facilitate Chrysler vehicle retail sales.
Acquisition of a 51% interest in Financiera El Corte Ingles, E.F.C., S.A.
In 2013, the company announced that Santander Consumer Finance, S.A. (Santander Consumer) had reached a strategic agreement with El Corte Ingles, S.A. (El Corte Ingles) in consumer finance and client financing, which includes the acquisition from El Corte Ingles of a 51% interest in Financiera El Corte Ingles, E.F.C., S.A. (Financiera El Corte Ingles). El Corte Ingles would retain the remaining 49%.
Financiera El Corte Ingles is a consumer finance business that provides financing for the acquisition of all sorts of goods and services of the entities of the El Corte Ingles group. The El Corte Ingles group is a retailer in Spain and the department store business in the country.
Deposits
The principal components of the company’s deposits are customer demand, time and notice deposits, and international and domestic interbank deposits. The company offers current accounts; savings accounts; other demand deposits; fixed-term deposits; home-purchase savings accounts; discount deposits; hybrid financial liabilities; other time deposits; repurchase agreements; reciprocal accounts; and central bank credit account drawdowns.
Investment Securities
As of December 31, 2013, the company’s investment portfolio included debt and equity securities. It invested in U.S. treasury and other U.S. government agencies; states and political subdivisions; other securities; debt securities of Spanish Government; public authorities; and other domestic issuer.
Regulation
The company is a financial holding company and a bank holding company under the U.S. Bank Holding Company Act of 1956, as amended (the Bank Holding Company Act), by virtue of its ownership of Santander Bank, Santander Holdings USA and Santander BanCorp. As a result, it and its U.S. operations are subject to regulation, supervision and examination by the Federal Reserve Board.
Banco Santander Puerto Rico is a Puerto Rico-chartered bank, and its deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The company’s New York branch is supervised by the Federal Reserve Bank of New York and the New York State Department of Financial Services, but its deposits are not insured (or eligible to be insured) by the FDIC. Santander UK’s branch in Connecticut is supervised by the Federal Reserve Bank of New York and the Connecticut Department of Banking. Banco Santander International is supervised by the Federal Reserve Bank of Atlanta. Santander Consumer USA is regulated and supervised by the Federal Reserve Bank of Boston and various state regulators. The company’s New York branch is licensed by the New York Superintendent of Financial Services to conduct a commercial banking business.
History
Banco Santander, S.A. was founded in 1857.

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